City reviews its economic performance at meeting on late February.
In the first two months of this year Ho Chi Minh City added over VND46 trillion ($2.1 billion) to the State budget, a yearly increase of 8.58 per cent. As at February 15 it had reeled in $1.9 billion in foreign direct investment, including 44 new projects worth $421 million.
There are 8,967 price-stabilized retail outlets in the city as well as 108 supermarkets and shopping malls, 448 convenience stores, and 127 markets. The retail and service sectors raked in over VND107.5 trillion ($5.1 billion), up 11.7 per cent against the same period last year. The industrial production index rose by 4.8 per cent due to measures to bring employees back to work quickly after the Tet holiday.
In the coming months the Chairman of the City People’s Committee, Le Hoang Quan, will ask relevant agencies to remove barriers to business, especially regarding capital, facilities and technology. He has requested additional incentives be introduced for businesses, including improved access to funding, to bolster their competitiveness.